Many people dream of owning a business one day. Maybe you envision running a pizza restaurant with your spouse and kids and grandkids one day, or perhaps it is a sleek Tech startup you see yourself leading. Whatever it is you imagine, there are a few steps, often more than a few, to turn a daydream into reality.
Are you considering starting a new business? If you want to be successful and get funding, you will need to have a thorough plan. While you may think that writing a business plan is intimidating, you do not need to do anything fancy to put together a solid document.
If you own a business in Colorado, one of the most important type of plans you should have concerns business succession. You need some form of arrangements in place to protect your business if something were to suddenly happen to you. Just ask yourself, what would happen to your company if you suffer a critical injury in a car accident or die from a heart attack? As depressing and unsettling as the thought of those situations are, thinking of them can help you to take measures to ensure your company's longevity long after you are gone.
Buying a business can be an exciting and overwhelming venture. In order to obtain the most benefits, however, you have to choose the right business to purchase. Which one is the right fit depends on the answers to several important questions you must ask.
You have invested a lot of thought into your estate planning, taking care to distribute your assets fairly and effectively. You definitely do not want your wishes challenged and your estate wasted in probate litigation after you pass.
If you want to ensure you have a say as far as who is going to receive your assets after your passing, it is essential that you create a will. Otherwise, you relinquish control over your own belongings, and the duty of distributing them falls into the hands of the state.
If you're a grandparent with a large family, you likely take pride in all your grandchildren. As part of your estate plan, you may want to divide your finances and property among those grandkids.